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Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) spot ETFs registered inflows of $3.26 billion and $74.43 million, respectively, over the past four days.
The surge comes despite President Donald Trump‘s unexpected omission of crypto-talk in his inauguration speech and the following volatility in the cryptocurrency market.
The record inflow occurred on Jan. 17, Sosovalue data shows. Some $1.08 billion flowed into various Bitcoin funds. On Jan. 21, the inflows were $802.5 million.
Only Bitwise’s Bitcoin ETF (NYSE:BITB) experienced an outflow for the day, with the fund losing $17.41 million.
Bitcoin spot ETFs collectively manage $123.59 billion net asset value. That’s equal to about 5.88% of Bitcoin’s total market value.
See Also: New Bond ETF Aims For High Income Through Flexible Multi-Asset Strategy
Overall, nine spot Ether ETFs now manage $12.07 billion in assets, which is equivalent to about 3% of Ether’s market capitalization.
Trump’s reticence on cryptocurrency at his inauguration was blamed for Bitcoin falling from $106,000 before the president’s address to $101,000 during the speech, It’s currently hovering at around $104,000.
Solana was also under pressure and fell almost 10% from its all-time high. Investors may be betting on the long-term vision of the future of crypto and taking this as an opportunity to enter the crypto world.
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Posted In: $BTC $ETH ARKB BITB BTC ETH ETHA ETHV FBTC FETH IBIT
